Blockchain logistics business Yojee’s Singapore last mile logistics network has delivered significant growth and strong performance results.
The ASX-listed company – which uses AI and blockchain technology to create a seamless regional freight network – has achieved an almost 700 per cent growth in last mile deliveries on its Singapore network over the last six months.
In December alone, Yojee has reported a 150 per cent increase in deliveries over November figures.
Yojee continues to execute well on its last mile delivery services in Singapore by leveraging both its network of freelance drivers and delivery partners that utilise the company’s software,”
Yojee managing director Ed Clarke said.
“The company has a solid pipeline of opportunities and we anticipate further strong growth in 2018.”
The company also noted the broad appeal of its network platform given the strong mix of B2C e-commerce – from both local and international sources – B2B and C2C while 76 per cent of repeat customers being corporate senders.
Deliveries on Yojee’s Singapore last mile logistics network were completed by Yojee software partners and a network of over 1300 freelance drivers.
Orders were placed through API integrations with e-commerce platforms and through direct agreements with merchants and freight forwarders.
Shares in Yojee (ASX: YOJ) were trading this afternoon at 27.5c, up 4 per cent, after earlier hitting an intraday high of 29.5c.
